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Israeli startup PeerTV filed for IPO in the London AIM market (Alternative Investment Market) yesterday.The company enables Content Providers, ISPs and Operators to deliver OTT (Over-the-Top) TV services and it's the first Israeli company to go public in London in the last three years. PeerTV wants to raise £6 million in this move (or $9.64 million) to position itself as a player in the growing Internet TV market.The IPO will take place by November 9th.
PeerTV’s OTT service includes live channels VOD and free public content over the open Internet such as podcasts and streaming video. The IPO is underwritten by Libertas Capital Corporate Finance. PeerTV says it is profitable ($200,000 profit in the last six months) on revenue of £3.12 million – a growth of almost 30% from last year, in which PeerTV grossed £2.18 million.
For OTT TV channel operators, PeerTV’s solution provides minimization of the initial risk by lowering the needed investment and a solid technological solution that needs minimal integration efforts.
PeerTV is a leading developer of hardware and software solutions to the Internet-based TV market. Since its establishment in May 2007, PeerTV has successfully sold advanced PeerStation set top boxes to mass-deployments of Internet-based TV Operators supplying subscription based TV services globally.
It also offers two major approaches to developing third party TV applications for developers, both shaping end-users experience when interacting with the service and personalizing their media consumption - with both an SDK and an MDK. http://www.peertv.com/set-top-box-internet-tv-stb-developers-tools
The company operates in an emerging and rapidly growing consumer-orented market in which new generation of Internet TV operators seek a replacement for the costly use of satellite/ cable infrastructure as a delivery platform. These Internet-based 'Virtual TV Operators' (VTOs) feature a new model, replacing the costly and limited broadcast infrastructure with the open Internet, thus exploiting its powerful standards and innovative business models.
With a range of reliable client platforms (Internet TV STBs) and a revolutionary, widget-based client-server application delivery technology, PeerTV is well positioned to provide operators with an optimized connected-TV setup, a supporting platform and an enhanced user interface that makes internet TV an enjoyable, simple-to-use user experience.